You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Intellect Design Arena gains after Burgan Bank deploys iGTB banking platform

Capital Market 

Intellect Design Arena rose 2.12% to Rs 263 after Burgan Bank deployed the company's digital transaction banking platform to power its corporate banking expansion strategy.

Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena, on Monday (23 November 2020) announced that Burgan Bank, a leading banking service provider to the Kuwaiti business community has successfully deployed superior customer-centric channel capabilities to augment and enhance its digital cash management services.

Burgan Bank is now poised to offer a full range of streamlined and advanced transaction banking services to leading Kuwaiti corporations & SMEs across the trading, manufacturing, contracting, alternative energy and advanced technology sectors.

On a consolidated basis, Intellect Design Arena a reported net profit of Rs 59.41 crore in Q2 September 2020 as compared to a net loss of Rs 16.14 crore in Q2 September 2019. Net sales jumped 13.8% to Rs 371.81 crore in Q2 September 2020 over Q2 September 2019.

Intellect Design Arena is a financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, global consumer banking, iGTB (global transaction banking), risk, treasury and markets and insurance software.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, November 23 2020. 15:27 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU